Case Studies

Please click on the links (images) below to read actual case studies from real borrowers. These are used with permission and demonstrate the variety of uses for bridging finance and the speed of service that Roma Finance provides.

We provided a £200,000 bridging facility for the purchase of an empty pub in West Yorkshire with a change of use for a family to run their business from the property.

As the customer was new to using bridging finance, we provided excellent customer service every step of the way. The customer was extremely pleased with the level of service and the fast completion of the funding.

Daniel Hill - South East
07913 236879
A customer approached us for a bridging loan to pay off their current mezzanine lender and to finish off the last property on a development of four residential houses.
We were able to lend £460,000 to the Preston-based customer who was delighted that the development was able to be completed.
...

Roma Finance, the specialist bridging finance lender, demonstrated a strong commitment to post-funding service by going the extra mile to help a customer, who had been let down by builders, to complete a basement conversion in London.
The customer spotted an opportunity to double the value of the mid-terraced property and appointed builders to carry out the work with funds from a £80,000 second charge.
However, things didn’t go to plan. After the builders had been paid a substantial deposit and work had commenced, they disappeared.
With the property falling into disrepair and amid a flurry of complaints from angry neighbours, the local authority issued an Enforcement Notice. The borrower, who worked full time in the NHS was stuck between a rock and a hard place. He didn’t even have the funds for the remedial work let alone the money to complete the project. And to make matters worse, his second lender wouldn’t help.
Roma Finance, again demonstrated their renowned flexibility and ability to get ‘under the skin’ of a case. They quickly assessed the project and, realising the potential of the property, agreed to lend £250,000 to pay off the second charge, placate the local authority and complete the project. The bridging finance was released in stages subject to ongoing inspections.
At the end of the loan term due to a backlog at the local authority, there was a three month delay to get the building inspector to undertake the final inspection which meant the borrower was unable to get a Completion Certificate that would have allowed him to re-finance and exit the bridge.
However, Roma Finance once again demonstrated their understanding of a borrower’s issues and granted an extension to the term until Building Control had issued the Completion Certificate which enabled the customer to obtain his re-finance without being defaulted.Commenting on the case Roma Finance’s managing director Scott Marshall said: “This was one of those cases which we knew would be worthwhile for all concerned. Several other lenders wouldn’t lend because of the Enforcement Notice, but having met the applicant, we knew the issues were not of his making and we could see the property’s potential. We showed our understanding of the problems a customer can have with a project like this and despite setbacks, we stuck by the borrower and helped him realise the full potential of the project, when other lenders might not have been so understanding. It’s often how a lender conducts themselves when things don’t go to plan that differentiates them from competitors.
“We always try to do the right thing by our customers when they get into difficulties and deliver exceptional service backed by prompt, pragmatic underwriting decisions.”
The borrower commented: “I would just like to thank the staff at Roma Finance for being polite, friendly and always accommodating. I needed a bridging loan to fund a basement conversion in West Norwood, London which took longer than expected because of issues with building control. A special mention to Mr Scott Marshall who I found to be a very genuine, honest and kind person.”...

The well-proportioned Georgian property in a picturesque setting was acquired from the mortgagees-in-possession and fortunately part of the work had already been done by the previous owner.At the time of purchase, five of the six apartments were tenanted and those tenants were given notice on exchange of contracts, so that vacant possession could be obtained shortly after completion.

Commenting on the case Roma Finance director Scott Marshall said: “This is a good example of a borrower spotting a brilliant property project and buying it quickly to maximise the opportunity. By doing this he gave the project a much higher yield and made the business plan work out very much in his favour.This is only the first of many projects we are likely to do with him. We had to pull out all the stops to get the case funded quickly, but with our expert team which included our valuers and solicitors, we were able to provide the funds needed within 48 hours.”

The borrower commented: “Roma Finance restored my faith in the bridging sector by acting quickly and in a very professional manner.I was particularly impressed that the Agreement in Principle was issued within an hour of them getting the basic information about the property and project.

“I was delighted at the way Roma took a genuine interest in the project and, furthermore, completely understood my plans and income projections for the building. The finance was completed in double quick time which ensured that I was able to comply with the vendor’s timetable. I would certainly not hesitate to use them again on my future projects.”

There has been a lot of talk since the recent budget that buy to let property will be used by a growing number of people as part of their pension planning. This is borne out through the example of this project funded quickly by Roma Finance to help a borrower undertake a renovation to provide long term rental income. Roma Finance were also able to provide a second facility to help get the most from the opportunities this property provided.
After spending two months trying to get funding from another lender and their borrower paying out for legals and fees, the broker, y3s Bridging and Commercial, finally decided to try another lender and called Roma Finance one Friday morning. Although they hadn’t worked with Roma Finance before, they had heard about their individual approach and ability to help borrowers when a case gets stuck and clear decisions just are not being made.
The property was a much sought after old mansion nestling in beautiful parkland bought by the borrower for £790,000 with a loan from a High Street bank. The plan was to convert the property into a spacious family home, together with 6 luxury 2 bedroom apartments, which would be rented out.
After receiving the call on Friday morning Roma were on site meeting the borrower on the Sunday morning, gave an immediate on the spot in-principle agreement and the borrower had £110,000 by Tuesday which enabled the borrower to complete the conversion of the first 2 flats.
The borrower then requested that his broker raise a further £200,000 to convert 4 further luxury executive lets in the mansion which would be finished to the highest standards.
At this point the broker was considering using another lender, but quickly realised that many lenders would only lend on the value of the property as the project progressed, not on its final value after work was completed, which would not provide enough finance to finish the conversion. Having seen work done so far on the completed apartments and realising the full potential of the income when the refurbishment was complete, Roma Finance stepped in again to provide the additional funding in stages as the work progressed, but based on the ultimate value of the property.
Roma Finance also built up a good relationship with the broker, who was paid the same as a gold packager with other lenders, despite Roma Finance putting in a lot of project management time to get the conversion funded.
With the work done, the valuations are impressive. The site as a whole is worth £1.8m, with the 6 flats worth £200,000 each and the remainder of the mansion is a substantial family home valued at £600,000.
However, for now they are not for sale. The rental income will be used by the borrower to provide long term income into retirement. The growth in asset value may be realised at a later stage as the house or one or more of the flats could be sold separately to release funds if required.
The borrower said “I was very impressed with Roma’s speed and attentiveness. Unlike other lenders in this space they made significant efforts to get to know me and fully understand the project.”
Scott Marshall, Director at Roma Finance said: “This was a very satisfying case to work on as it demonstrated the value of our individual approach to lending by working closely with the broker and the borrower to provide separate finance as the case progressed, with the objective of getting the most out of two renovations”.
“Releasing funds in stages is also something we have experience in and could monitor progress as we released extra funding. Not many lenders would have spent so much time on a case to ensure a viable outcome for the borrower, but this is what we pride ourselves on at Roma Finance as every case is different and requires individual attention.”...

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